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BMO Global Asset Management and global technology firm FIS announced Wednesday that they have formed a strategic alliance with California-based Farmers and Merchants Trust Co. to provide Farmers with what they say is an “industry-leading” trust and custody platform.

Under the partnership, BMO and FIS will cooperatively provide Farmers and Merchants Trust with a trust and custody platform developed by FIS’ technology specialists and serviced by BMO Global Asset Management’s dedicated team of trust operations and custody professionals.

“The combination of FIS and BMO Global Asset Management links the industry-leading custody platform with a premiere trust outsourcing service provider,” said Frank Tabar, VP and Strategic Risk and Operating Officer for Farmers and Merchants Trust. “Together, their proven track record in product development and client service gives us the ability to focus on serving our current and future customers.”

Wayne Klomstad, director of Trust Outsourcing-Trust and Custody Services for BMO Global Asset Management, added in the same statement that for nearly a century, “Farmers and Merchants has provided clients throughout California with service excellence. Their commitment to their clients closely mirrors that of the relationship between BMO and FIS. Together, we will strive to provide best-in-class trust and custody solutions to multiple generations of clients throughout California.”

In addition, Farmers and Merchants will gain operational efficiencies and cost savings with the additional FIS integration of electronic bill payment and the AML Premier Compliance Suite.

“The combination of FIS and BMO Global Asset Management will enable Farmers and Merchants to provide their clients exceptional service based on a comprehensive client view and advanced client access capabilities,” said Anthony Jabbour, EVP, North American Financial Institutions, FIS, in the statement. “This partnership is further proof that we’re delivering wealth management solutions that are bringing real benefits to the market for a wide range of clients.”

Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues and writes The Playing Field column and Human Capital briefing. Reach her at mwaddell@alm.com. On twitter: @Think_MelanieW

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